SilverTowne Review

SilverTowne Mint Review

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Investors are familiar with paper assets, such as stocks and bonds, and their retirement benefits. They might want to diversify even further with precious metals.


Investing in gold and silver is much different than paper assets, however. 


Investors need a reliable dealer where the best products can be bought and possibly stored.


Now, let's explore SilverTowne and its products today. Their services could enhance investors' portfolios over the years.

Before we get started, investing your savings is a serious task. When it comes to adding precious metals to your portfolio, how do you know which companies to trust?

That is why we have researched every company in the industry and selected the very few with the highest customer service standards.

This way you can easily compare the best companies in the business, and choose one that fits your needs and investment goals.

Read the list to see if SilverTowne passed our strict customer service standards to become one of our top recommendations.

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Explore the Company's Background

SilverTowne's website has a rustic tone from the moment investors land on the homepage. Colorful images advertising their products are prominently displayed.

Unlike other precious metals companies in the industry today, this business has been serving its Indiana community since 1949.

SilverTowne-logo

True to its roots, SilverTowne is largely a precious metals dealer. They sell coins, bars, and collectibles. In fact, any mention of precious metals IRAs or Individual Retirement Accounts is rare on the site. Investors have to scroll to the bottom of the homepage to even find this information.

SilverTowne-website

There don't appear to be a lot of blogs or articles from SilverTowne about precious metals. This dealer stresses product sales over any other service.

Take a Look at the Founders

SilverTowne was the brainchild of Leon Hendrickson and his wife Ruhama. They lived in Winchester, Indiana, which is a very rural community.

This couple had an idea to open up a coin shop in town with integrity and honesty backing up every transaction. Over time, this tiny shop became a multi-million dollar business.

This business continues with its transparent offerings of quality precious metals and friendly service. The founder's page is detailed and easy to find. Other sites don't offer this much information about their origin. Overall, it's refreshing to see a family business flourish in middle America.

Break Down Precious Metals IRA Offerings

SilverTowne can help investors by diversifying their retirement portfolios. They do offer precious metals that can be put into a self-directed IRA, for instance. The company makes it clear that they don't manage precious metals IRAs.

Scroll down to their "Precious Metals IRA" page to see a list of trusted custodians and depositories. This helpful list makes SilverTowne stand out in this industry.

SilverTowne Review - Break Down Precious Metals IRA Offerings

Investors can buy products from SilverTowne, and hire a custodian to manage the IRA otherwise. The custodian is in charge of moving the precious metals from the dealer and into a secure depository. Investors cannot physically hold any IRS-approved metals for investment purposes. It's a federal law to keep them in depositories.

Follow the Steps to Opening an Account

Investors must open an account with a trusted custodian from SilverTowne's suggestions or a separate entity. They work with almost any approved custodian.

Fund the account with a 401(k) rollover or other transaction. Investors can then choose the IRS-approved precious metals for the IRA out of SilverTowne's inventory.

The custodian directs the metals shipment to the investor's chosen depository. In the meantime, investors can track their purchases from the store and into the depository's vault. The precious metals should remain secure for many years to gain any returns on their value. Ideally, withdraw the metals or cash them out during retirement.

Discover Product Choices

Bullion

Because SilverTowne has been in business for so long, they have quite a collection of distinct products.

They offer gold, silver, and platinum bullion. It comes in different forms too. Clients can choose from various coins, rounds, and bars, for example.

SilverTowne-Bullion Product

Investors might be interested in silver bullet or Buffalo rounds replicas too. Silvertowne caters to both the collector and investor in everyone. They've even created a separate area for IRS-approved bullion.

Coins

Where SilverTowne shines is in its coin inventory. Investors can choose from American or World coins in silver or gold.

They have coin sets and certified Silver American Eagle coins. From silver dollars to vintage United States coins, investors have many choices for their collections.

SilverTowne-Coins Product

Their silver coin bags are especially exciting because there is an element of surprise to each one. Keep in mind, however, these coins are mostly for personal enjoyment or home savings. Unless they're IRS-approved coins saved in a depository, they cannot be tax incentives from a self-directed IRA.

Gifts

Because there are so many products within the precious metals industry, it can be difficult to wade through everything.

SilverTowne gives newcomers a great tool with the "Gifts" tab.

SilverTowne-Gifts Product

Investors can look at items that are geared toward certain holidays, such as Mother's Day, or even birthday gifts. Each subcategory takes the investor to a page with plenty of precious metals products.

In fact, there are even branded gifts from SilverTowne. Investors who're big fans of this historic business can buy hats and shirts along with those treasured coins. This intriguing part of the site legitimizes SilverTowne again with its long-standing place in the precious metals community.

Supplies

Although SilverTowne caters to serious investors, it also recognizes the tradition of coin collecting. As a result, many supplies are helpful to the average collector.

SilverTowne sells storage tubes, plastic capsules, and other collector tools. Browse through their albums and coin holders as well.

These supplies are priceless to collectors, but they can be misleading to investors.

SilverTowne-Supplies Product

Newcomers may believe they can hold their gold coins while taking advantage of IRA tax incentives. This scenario is not the case. Any precious metals in an IRA must remain there. These supplies are strictly for collectors who enjoy the hobby or the security of keeping gold and silver at home.

Learn About Other Offerings

Deals

Investors who're passionate about precious metals will appreciate the "Deals" tab. Click on it to see daily specials. SilverTowne advertises that the page changes each day, which is a clever marketing tool.

SilverTowne-Deals

Discover items from every part of the website. There are often low premiums on products ready to be moved out of inventory. It's a great way to shore up any collector's stash.

Keep in mind that SilverTowne might offer certain coins at a low cost, but they control which dates are sold under this deal. It may be hard to find a particular dated coin without paying for spot prices on their other web pages.

The Vault

Click on "The Vault" to be taken to a page where unique products from around the world can be purchased. Each item is clearly priced, photographed, and documented. Presumably, these products change regularly. Checking back often appears to be the draw.

SilverTowne-the vault

Prices will vary based on the payment type, such as PayPal versus bank wire. The price differences account for various merchant fees charged by either service. It's refreshing to see transparency when it comes to prices.

Otherwise, investors see the fees tacked onto the products near the end of the transaction. This scenario is often frustrating for investors.

Analyze the Pros and Cons of SilverTowne

SilverTowne is a company with a family backing it even today. They take pride in their service and products, including being affiliated with top numismatics organizations. These business ethics translate to a solid company where investors can be confident in their purchases.

A disadvantage to SilverTowne is their shipping time. Although most customers report positive experiences with this company, two to three weeks of shipping time across the nation is a bit slow. It's unclear why these shipping times take so long. An improvement in this area would help their reputation.

The lack of involvement with IRS-approved precious metals is another disadvantage. Investors may appreciate as much variation with IRA metals as is seen with collector metals.

Read Over Reviews

Considering this company has been around for many decades, there are surprisingly few reviews to read. Across the Internet, there seem to be a few dozen reviews. They're all largely positive comments.

Customers report the service is outstanding. The staff appear happy and offer assistance whenever necessary. Many of the reviews refer to the in-person staff as opposed to an online experience.

This distinct difference is important to note. It's difficult to report on customer service when investors simply add items to a virtual cart and check out.

SilverTowne-trustpilot reviews

There are no reviews on the Better Business Bureau website either. Investors may need to rely on the few online reviews across other sites to help them with their investment choices.

Research Ratings

SilverTowne has been in business for nearly 75 years. This fact alone makes their business a legitimate provider of precious metals.

If investors go on the BBB website, they'll discover no filed complaints about SilverTowne and an A+ rating.

silverTowne-BBB reviews

However, investors may be concerned about the lack of accreditation from the BBB. It's difficult to say why they're not accredited, but their time in business speaks volumes.

They serve a small community and branch out to others through the Internet. If any complaints come up in the future, investors should be able to see them officially on the BBB's website.

Make a Final Decision

SilverTowne offers a mixture of large-scale product selections and hometown charm at their store. In fact, there aren't many precious metals companies that operate at such a humble level. This company appears to be trustworthy and reliable when it comes to metal purchases and IRA setups.

Ideally, investors should always research precious metals dealers and make their own decisions. SilverTowne has a good reputation and a long track record. Purchasing products from them should be streamlined and pleasant.

Investors have a lot of choices when it comes to precious metals purchases and IRA providers. Keep a diversified portfolio throughout the years to see this nest egg grow. Retirement may be more financially comfortable than ever imagined.

Remember to read out list of the Top Gold Companies to see if SilverTowne made the cut.

>> Click HERE to read our Best Precious Metals Investment Companies list <<

Or, if you like what you read about SilverTowne, you can visit their website below.

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